§ Mr. David AtkinsonTo ask the Chancellor of the Exchequer if he will introduce measures to ease the financial burden of millennium compliance of computer systems for companies. [20162]
§ Mr. JackAs far as taxation is concerned, the position is that companies will normally be able to deduct the cost of making amendments to their existing software in computing their taxable profits. Capital expenditure on purchases of new software to deal with the millennium will normally qualify for capital allowances. Thus, I see no need for any special tax measures.
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